By Favour Ifeoluwa & Akinola Ajibade The Chief Executive Officer, Egbin Power Plc, Mr Mohktar Bounour says global transition to cleaner energ and sustainable environment are achievable, as long as there is strong synergy and commitment among stakeholders in the value chain. He spoke during the maiden edition of Asharami Square in Lagos. This is an initiative introduced and implemented by the Sahara Group, in order to amplify discourse on energy sustainability through media advocacy globally. He said: " Having analyzed the percentage of global greenhouse emissions attributed to sectors including electricity/heat production, agriculture/forestry and transportation, we are realised that there is need for synergy and renewed commitment among stakeholders". According to him, Egbin Power has unwavering commitment to reduce carbon emissions and promotes sustainable energy sources, stressing that the need to depeening engagement and advocacy among stakeholders in
By Akinola Ajibade Nigeria has recorded increase in the payment of subsidy on petroleum products, a development, which means that the country would still grapple with scarcity of the products as time goes on. Presently, the total amount paid for petrol subsidy in the last 17months(1.5trillion in 2021)has risen to N2 84trillion. This shows that subsidy on petrol has grown by 190 92 per cent in the first five months of 2022 to hit N1.274 trillion compared to N438.36 trillion recorded in the corresponding period of last year. Latest data on subsidy by the Nigerian National Petroleum Corporation, NNPC Limited, showed that subsidy in May 2022 rose by 99.2 percent to N227.72 billion compared to N114.34 billion recorded in May 2021. Also the N503.31 billion incurred in April 2022 was 398 percent higher than N126.29 billion recorded over a similar period in 2021. In March 2022 subsidy of N152 billion was also 35.7 percent higher than N111.96 billion recorded in March 2021. Petrol subsidy for